Ethereum

BLAST

<p class="is-style-lead"><a href="https://crypto.news/blast-token-price-slips-after-airdrop-as-some-holders-sell/">BLAST</a>, the native token of Ethereum layer-2 scaling solution Blast, surged 20% following its launch while a deluge of fake airdrop posts flooded X.</p> 
<p>BLAST debuted at $0.02 per token, giving it a fully diluted value (FDV) of $2 billion at launch, according to aggregated <a href="https://ambient.finance/trade/pool/chain=0x13e31&amp;tokenA=0x0000000000000000000000000000000000000000&amp;tokenB=0xb1a5700fA2358173Fe465e6eA4Ff52E36e88E2ad" target="_blank" rel="">data </a>from Ambient Finance and the perps trading platform Aevo.</p> 
<p>Created by makers of the incentivized NFT marketplace Blur, Blast’s distribution yielded an initial market cap of $392 million.</p> 
<p>BLAST’s price has now risen slightly more than 20% to $0.024 at the time of publication, according to CoinMarketCap data. The crypto asset now has a market capitalization of $408 million and a daily trading volume of $730 million.</p> 
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  BLAST 24-hour price chart | Source: CoinMarketCap
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<p>The airdrop released 17% of BLAST’s total supply, with 7% allocated to users who bridged Ether or USD on Blast (USDB) to the network since late last year.</p> 
<p>Another 7% was distributed to users who contributed to the success of decentralized applications (dApps) on the network, and 3% was reserved for the Blur Foundation for future community airdrops.</p> 
<p>Blast, created by the makers of the incentivized NFT marketplace Blur, faced significant challenges from scammers on social media.</p> 
<p>Numerous fraudulent posts claimed that Blast’s airdrop had started sooner than expected. These posts, bearing the same profile picture and display name as Blast’s legitimate X account, directed users to fake websites and boasted “Gold checkmarks” introduced by the platform’s current owner, Elon Musk.</p> 
<p> You might also like: <a href="https://crypto.news/wormhole-unveils-new-governance-staking-feature-w-token-rises-12/"> Wormhole unveils new governance staking feature, W token rises 12% </a> </p> 
<p>Some of these suspicious links even infiltrated Blast’s official Discord server before being removed by a community moderator.</p> 
<p>One victim reportedly lost $217,000 worth of crypto after visiting a phishing site, as <a href="https://x.com/realScamSniffer/status/1805971626602926447" target="_blank" rel="">detailed </a>by the cybersecurity firm Scam Sniffer. The user had unknowingly signed multiple malicious transactions, highlighting the ongoing challenges in combating bad actors on the platform.</p> 
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   <p lang="en" dir="ltr">🚨 Attention! 🚨<br>With the recent surge in popularity of <a href="https://twitter.com/search?q=%24BLAST&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$BLAST</a>, it has come to our attention that there is an alarming increase in phishing attempts. Fraudsters are sending out fake <a href="https://twitter.com/search?q=%24BLAST&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$BLAST</a> airdrop messages on platform X, aiming to deceive unsuspecting individuals. 😱 <a href="https://t.co/JEpbciavpG" target="_blank" rel="">pic.twitter.com/JEpbciavpG</a></p>— AegisWeb3 (@AegisWeb3) <a href="https://twitter.com/AegisWeb3/status/1806249982091280506?ref_src=twsrc%5Etfw" target="_blank" rel="">June 27, 2024</a>
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<p>Despite the airdrop’s success in distribution, it <a href="https://x.com/Cbb0fe/status/1806217906792841227" target="_blank" rel="">attracted criticism</a> from market commentators on X, particularly regarding the absence of a staking mechanism for BLAST tokens.</p> 
<p>Moreover, some BLAST token holders expressed intentions to<a href="https://crypto.news/blast-token-price-slips-after-airdrop-as-some-holders-sell/"> sell their airdropped tokens</a> immediately upon the opening of perpetual markets.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24BLAST&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$BLAST</a><br><br>remember to dump all of your bag the second they open perps <a href="https://t.co/9VwuQGuWP8" target="_blank" rel="">https://t.co/9VwuQGuWP8</a> <a href="https://t.co/VCrvtSmfwv" target="_blank" rel="">pic.twitter.com/VCrvtSmfwv</a></p>— Mac 🐺 (@MacnBTC) <a href="https://twitter.com/MacnBTC/status/1806075914423292304?ref_src=twsrc%5Etfw" target="_blank" rel="">June 26, 2024</a>
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<p>Blast’s airdrop marks the second Ethereum layer-2 blockchain airdrop in June, following the zkSync airdrop earlier in the month.</p> 
<p>The zkSync token distribution <a href="https://crypto.news/zksync-faces-community-backlash-over-lack-of-anti-sybil-measures-in-zk-airdrop/">faced heavy criticism </a>from the community, with claims that many users were left out in favor of Sybil addresses—multiple wallets created by the same user to claim a large number of tokens.</p> 
<p> Read more: <a href="https://crypto.news/aave-fork-on-blast-mistakenly-liquidated-26m/"> Aave fork on Blast mistakenly liquidated $26m </a> </p>

BLAST token jumps 20% as fake airdrop scams flood X

crypto.news

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